What you said might hold true 50 years ago. After
farking 50 years, Singapore is still beholden to foreigners. The
cursed despots, blame them. They cornered the country's resources
and have only losses to show for it. No Sonys no
Samsungs.
Ridiculous, Sony and Samsungs had the funds to start out because
Japanese and Korean banks borrowed heavily from foreign banks(Euro
and US) to start out.
That's why their economies are so badly hit during 1997
(1986-1990 for Japan) when all the foreign banks moved in
to start buying up their stuff cheap. You can't really argue about
the price when your funds are already controlled by the
foreign banks.
And they have a population of 49 million (Korea) and 127
million (Japan)
Meaning mathematically they have 12 times and 30 times the
chance of producing highly qualified personnel. There's nothing
mysterious about Sony and Samsung, it's pure maths. Why do you
think they keep letting in the foreigners? They have to up the
ratio of talented people because we simply cannot produce
enough.
The establishment of the CPF allowed the government to have
accessible funds and reduced their dependance on foreign banks.
Temask Holdings' purpose is to have a strong state corporation
that would make it difficult for any foreign corporations to come
here and establish a monopoly, thus allowing them to have
a stranglehold on Singapore's politics.
Why don't we have a Sony and Samsung? Because we
aren't allowed to borrow heavily from foreign banks for the funds
to set up in the first place. In exchange, our economy cannot be
crippled without warning. It's basically a give and take.
I'm not saying what LKY done is morally good, because we just
traded several foreign bullies for just 1 local bully. It's
not elegant either, but definitely more resilient.
50 years ago? 50 years ago?!! Are you isolated from the media?
It's hardly been 2 years!
